Lagos, Not Kano, Made Dangote and Rabiu Africa’s Richest Men – Shettima
By Aboki Forex —
Vice President Kashim Shettima has declared that Lagos, not Kano, is the platform that built the fortunes of Africa’s two richest men, Aliko Dangote and Abdul Samad Rabiu. He made this statement on Monday at the Invest Lagos 3.0 Summit.
“It was Lagos that gave Africa its richest man, not Kano. Aliko Dangote is a Lagos man. Again, it was not Kano, but Lagos that gave Africa its second richest man, Abdulsamad Ishaq Rabiu,” Shettima said.
The Vice President noted that Lagos contributes about 30 percent of Nigeria’s Gross Domestic Product. He also highlighted that five of Africa’s nine unicorn startups are based in Lagos. These include Flutterwave, OPay, Moniepoint, Interswitch and Andela.
Shettima argued that the city’s vibrant commercial landscape creates wealth and enterprise growth. He added that many prominent Nigerians, including Festus Keyamo and Hope Uzodimma, built their careers in Lagos before returning to their home states for public service.
Sanwo-Olu: Lagos is Africa’s Gateway for Investment
Lagos State Governor Babajide Sanwo-Olu also spoke at the summit. He said Lagos has a population of over 25 million and a GDP approaching $300 billion. The governor described Lagos as Africa’s largest sub-national economy.
Sanwo-Olu said the state is strengthening its position as a gateway for investment and trade, especially under the African Continental Free Trade Area. He pointed to the state’s large consumer market, strategic location and strong connectivity as key advantages.
Earlier this year, the Bloomberg Billionaires Index ranked Dangote and Rabiu as Africa’s best-performing billionaires in 2026. Dangote’s net worth rose by $2.79 billion to $32.8 billion. Rabiu’s wealth increased to $12.5 billion.